Hi, can someone please tell me about Notification or Circular issued by Income tax on deduction of TDS on Rent including Service Tax.
We are paying Rs. 120000/- p.a. as rent, hence not deducting TDS on it. However, since Service Tax is applicable on rent , party is charging Service Tax on Rent, but asking us not to deduct TDS, as there is nothing specified in the Act.
Please guide me, urgently..
Menu
TDS on rent
Replies (5)
tds will be deducted on the amount after charging service tax ...
but if he wants not to deduct tds then he must apply to the assessing officer for not deducting tds or deducting tds at a lower rate as mention in sec. 197 ...
Regards,
Varun Makhija
Circular No. 4/2008, dated 28-4-2008, CBDT
Dear Mr Kothari
We thank u for your clarification, but in circular 4/2008 itz given tds is not not required to be deduct on service tax , so i got confuse whether the same clarification we will apply for the limit given u/s 194I or any other clarification is there ?
YES THE SAME WILL BE APLLICABLE WHILE CALCULATING LIMIT OF RS. 120000/-
Recent Topic
- CGAS account Holder Deceased
- ITR form suggestion
- Post office KVP income.
- Free GST invoice tool I built for my practice R
- Clarification on Gratuity Exemption under Section
- GOODS AND SERVICE TAX - GSTR 1
- Correct ITR form
- Clarification required on Section 393 & Report
- Professional advance taxes
- Surrender pan process
Related Topics
CAclubindia
